Nelson Higher Education

Higher Education

Microeconomics: An Intuitive Approach with Calculus, 1st Edition

  • Includes online Study Guide.
  • Thomas Nechyba
  • ISBN-10: 0538453257
  • ISBN-13: 9780538453257
  • 1224 Pages | Hardcover
  • COPYRIGHT: 2011 Published
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About the Product

Presenting microeconomic theory as a way of looking at the world, MICROECONOMICS: AN INTUITIVE APPROACH WITH CALCULUS builds on the basic economic foundation of individual behavior. Each chapter is divided into two sections. The A sections introduce concepts using intuition, a conversational writing style, everyday examples, and graphs. The B sections cover the same concepts with precise, accessible mathematical analyses that pre-suppose one semester of single-variable calculus. The package offers unprecedented flexibility in terms of topical coverage and graphical analysis: each copy includes access to online LiveGraphs -- a suite of interactive, animated graphs that allows students to view dimensional graphs and functions illustrated in the book, as well as some additional graphs that are not in the printed text. Students can play and replay the LiveGraphs while listening to a brief explanation of the graphs.


  • LiveGraphs: Have you ever sliced an onion in class to demonstrate the three-dimensional nature of a utility function? Nechyba's LiveGraphs put graphical analyses online, where students can play and replay animated figures with audio captions. Students can watch lines get plotted, see curves move, and in some cases, change variables to affect results. To view a demo, go to:

  • Everyday Applications: Rather than confining applications to static boxed features, Nechyba incorporates applications into end-of-chapter exercises. By working through exercises that exemplify key applications, students learn by doing and can apply their knowledge beyond the text.

  • Business Applications: How does pricing of one product affect demand for another produced by the same business? How might a firm most efficiently use cap-and-trade pollution vouchers? What is the impact of a capital-gains-tax-induced increase in the rental price of capital on firms within an industry? By working through exercises in each chapter, students answer these and other questions, questions that business professionals must also answer.

  • Policy Applications: How do private school vouchers affect tuition levels? How effective are anti-price gauging laws during times of supply disruption? How do governments consider policies for subsidizing saving vs. taxing borrowing? Each chapter includes relevant policy applications such as these in the exercises.

  • Linked Graphical and Mathematical Analysis: By first exploring an intuitive and graphical approach to the topics, then linking the concepts with mathematical analyses, students build both mathematical skills and abstract thinking. The result is a better understanding of microeconomics foundations, and better preparation for further coursework in economics, business, or policy studies.


"I would consider adopting this textbook for my sections of intermediate microeconomics and the main reasons for my interest are the high quality of the chapter content and the unique supporting materials."
— Douglas J. Miller, University of Missouri

About the Author

Thomas Nechyba

Thomas J. Nechyba is Professor of Economics at the Sanford School of Public Policy, Duke University, US. At Duke, he has previously served as Director of Undergraduate Studies and as Department Chair and currently directs the Economics Center for Teaching (EcoTeach) as well as Duke's Social Science Research Institute. In addition to his activities in the US, he has lectured internationally in Europe, Latin America and New Zealand.

Table of Contents

Web Chapter 0: Foundational Preliminaries: Using Graphs and Math in Economics (web-based chapter).
Chapter 1: Introduction.
PART 1: Utility-Maximizing Choice: Consumers,Workers, and Savers.
Chapter 2: A Consumer’s Economic Circumstances.
Chapter 3: Economic Circumstances in Labor and Financial Markets.
Chapter 4: Tastes and Indifference Curves.
Chapter 5: Different Types of Tastes.
Chapter 6: Doing the “Best” We Can.
Chapter 7: Income and Substitution Effects in Consumer Goods Markets.
Chapter 8: Wealth and Substitution Effects in Labor and Capital Markets.
Chapter 9: Demand for Goods and Supply of Labor and Capital.
Chapter 10: Consumer Surplus and Deadweight Loss.
PART 2: Profit-Maximizing Choice: Producers (or “Firms”).
Chapter 11: One Input and One Output: A Short-Run Producer Model.
Chapter 12: Production with Multiple Inputs.
Chapter 13: Production Decisions in the Short and Long Run.
PART 3: Competitive Markets and the “Invisible Hand”.
Chapter 14: Competitive Market Equilibrium.
Chapter 15: The “Invisible Hand” and the First Welfare Theorem.
Chapter 16: General Equilibrium.
Chapter 17: Choice and Markets in the Presence of Risk.
PART 4: Distortions of the “Invisible Hand” in Competitive Markets.
Chapter 18: Elasticities, Price-Distorting Policies, and Non-Price Rationing.
Chapter 19: Distortionary Taxes and Subsidies.
Chapter 20: Prices and Distortions across Markets.
Chapter 21: Externalities in Competitive Markets.
Chapter 22: Asymmetric Information in Competitive Markets.
PART 5: Distortions of the “Invisible Hand” from Strategic Decisions.
Chapter 23: Monopoly.
Chapter 24: Strategic Thinking and Game Theory.
Chapter 25: Oligopoly.
Chapter 26: Product Differentiation and Innovation in Markets.
Chapter 27: Public Goods.
Chapter 28: Governments and Politics.
PART 6: Considering How to Make the World a Better Place.
Chapter 29: What Is Good? Challenges from Psychology and Philosophy.
Chapter 30: Balancing Government, Civil Society, and Markets.


All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

Test Bank  (ISBN-10: 032435374X | ISBN-13: 9780324353747)

Written to match the text content and difficulty level, this Test Bank includes true/false, multiple choice, and other questions.

PowerPoint®  (ISBN-10: 0324353774 | ISBN-13: 9780324353778)

Available only on the product support website and the IRCD, this comprehensive presentation saves professors valuable preparation time. Key figures from the text and LiveGraphs are reproduced in the PowerPoint slides. Additional examples and applications are used to reinforce major lessons. The slides are crisp, clear, and colorful. Instructors may adapt or add slides to customize lectures.

Online Instructor's Manual with Solutions  (ISBN-10: 0324353731 | ISBN-13: 9780324353730)

Written by the text author, this IM/SM provides clear, complete solutions to all in-chapter and end-of-chapter exercises. It includes an instructor's overview for each chapter with key points, teaching tips, concepts that may be difficult for students, and ways to incorporate the online LiveGraphs into class presentations.

Instructor's Resource DVD (Both Versions)  (ISBN-10: 0538453958 | ISBN-13: 9780538453950)

Instructor's Resource CD-ROM for MICROECONOMICS: AN INTUITIVE APPROACH. INSTRUCTOR DESCRIPTION: Included on this CD set are the key supplements designed to aid instructors: Instructor's Manual with Solutions Manual, Test Bank in both ExamView® Computerized Testing Software and Microsoft Word, and PowerPoint presentation slides.

Student Supplements

Microeconomics: An Intuitive Approach with Calculus (Book Only)  (ISBN-10: 1439039992 | ISBN-13: 9781439039991)
LiveGraphs Web Site, 2 terms (12 months) Instant Access  (ISBN-10: 1111863504 | ISBN-13: 9781111863500)